Lehman Still Faces $43B In Brokerage Claims: Report

Law360, New York (April 22, 2011, 6:52 PM ET) -- A trustee overseeing recoveries for customers of bankrupt Lehman Brothers Holdings Inc. told a New York court Friday that he still needs to resolve $42.7 billion in claims despite reaching a milestone settlement with JPMorgan Chase & Co.

Hughes Hubbard & Reed LLP attorney James W. Giddens, who is serving as the trustee, told U.S. Bankruptcy Judge James Peck in an interim report that his team had so far worked through about half of an initial $88 billion in claims that were considered potentially eligible for...